Simple Interest SI Calculator
Calulator facilate to selection from drop-down : Simple interest, Rate of interest, Principle or Time as desired then enter the values in the respective rows and click calculate. The time can be selected as year, month or days.
Formula SI = P × R × T A = P + SI or = P(1 + (R x T)) Where, A = Final amount SI = Simple interest P = Principal amount (Initial Investment) R = Interest rate in percentage T = Time period in (years, Monthd or Days)
The interest will be charged on the borrowed/ lended amount. The money lended or borrowed is called principal, The interest on principal remains same for every month or every year and it is calculated from the principal amount, simple interest rate and length of the time.
if you want to calculate SI than enter the values for :
P = 100 , R = 10% and T = 3 years.
SI = (100 X 10 X 3)/100 = 30
Difference between SI and CI
The simple interest is based on the principal amount of a loan/deposit whereas compound interest is based on the principal amount and the interest that accumulates on the principal every period.